CNG car, SUV gross sales in India might cross 4.75 lakh models by March

February 8, 2024

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Retail gross sales information obtainable on the VAHAN web site reveals that 3,64,528 CNG cars had been bought within the first 10 months of FY2024 (April 2023-January 2024), which is a 29 p.c enhance over final 12 months’s 2,82,364 models. This isn’t just greater than FY2023’s 3,27,820 models however at this tempo, it might translate into best-ever fiscal gross sales of an estimated 4,75,000 models by March 2024.

There are 23 CNG cars on sale available in the market now
Tata not too long ago revealed CNG automatics of the Tiago and Tigor

There are 23 CNG cars and SUVs on sale in India, with market chief Maruti Suzuki having the most important portfolio of 13 fashions. This is adopted by Tata Motors (4 fashions) and Hyundai and Toyota Kirloskar Motor (three fashions every).

Retail gross sales of CNG passenger automobiles within the first 10 months of FY2024
Year	April	May	June	July	August	September	October	November	December	January	Total
FY2024	23,064	27,176	30,777	31,408	35,884	41,467	46,408	47,014	32,616	48,714	3,64,528
FY2023	29,313	28,221	28,833	27,272	27,460	22,166	34,593	27,608	23,564	33,334	2,82,364
% change	-21%	-4%	7%	15%	31%	87%	34%	70%	38%	46%	29%

Data: Vahan (as of 7pm, February 3, 2024)

Maruti Suzuki leads CNG gross sales with 69 p.c market share

Retail gross sales numbers within the April 2023-January 2024 interval exhibits that Maruti Suzuki has bought 2,51,620 CNG automobiles, which supplies it a commanding 69 p.c share of the market. By the top of this decade, Maruti Suzuki expects to see CNG automobiles account for a 3rd of its whole gross sales.

Tata Motors, which has overtaken Hyundai in the case of CNG gross sales, probably as a result of introduction of its Punch CNG in August 2023, has retailed a complete of 64,972 CNG cars and SUVs within the first 10 months of FY2024, giving it an 18 p.c market share.

FY 2024 gross sales of CNG Passenger Vehicles
Company	April	May	June	July	August	September	October	November	December	January	Total
Maruti Suzuki India	16,988	20,883	23,274	23,052	24,916	27,552	30,332	31,212	20,965	32,446	2,51,620
Tata Motors	2,297	2,123	3,387	4,359	5,963	8,017	10,183	10,412	7,825	10,406	64,972
Hyundai Motor India	3,448	3,593	3,420	3,420	4,369	5,176	5,225	4,707	3,379	5,042	41,806
Toyota Kirloskar Motor	318	560	685	570	603	720	667	677	444	820	6,064

Tata Motors not too long ago additionally revealed the CNG automated variants of the Tiago and Tigor and opened bookings for a similar. This makes the Tiago and Tigor the primary factory-fitted CNG automobiles to get an automated. By 2026, Tata is concentrating on the share of CNG cars and SUVs to develop from the present 14 p.c to 25 p.c. The deliberate introduction of the Nexon CNG mannequin is a step in that course.

Meanwhile, Hyundai Motor India has bought a complete of 41,806 CNG cars and SUVs, and presently has a 11.46 p.c market share. VAHAN’s month-wise information reveals that between April 2023 and July 2023, Hyundai, with 13,881 models bought, was forward of Tata Motors’ 12,166 models. However, the launch of the Punch CNG helped Tata outsell the Korean carmaker within the subsequent six months.

Toyota Kirloskar Motor, which has not too long ago entered the CNG market with the Glanza hatchback, Urban Cruiser Hyryder SUV and the Rumion MPV, has bought a complete of 6,064 models within the first 10 months of FY2024, with a 1.66 p.c market share.

CNG: India’s quickest rising phase

The sustained progress of the CNG phase can be why producers are steadily increasing their product portfolios to incorporate CNG variants. Since FY2015, 21 lakh CNG passenger automobiles have been bought in India, with 52 p.c – 11,04,645 models – having been bought up to now 4 fiscal years since FY2021.

FY 2023 gross sales of CNG Passenger Vehicles
Company	April	May	June	July	August	September	October	November	December	January	Total
Maruti Suzuki India	20,063	19,616	19,682	17,853	18,558	15,240	23,199	19,219	16,569	24,372	1,94,371
Hyundai Motor India	4.774	4,624	4,544	4,632	5,201	4,209	7,180	5,233	4,275	4,805	49,477
Tata Motors	4,333	3,858	4,488	4,706	3,614	2,657	4,418	3,020	2,382	3,757	36,963
Toyota Kiloskar Motor	6	7	11	7	17	8	5	86	292	337	776

From a client viewpoint, aside from the environment-friendliness, a CNG-powered car additionally offers appreciable financial savings in comparison with its petrol or diesel-engined siblings. What’s additionally driving the buyer shift to CNG fashions is the excessive worth of petrol (Rs 106.29 a litre in Mumbai) and diesel (Rs 94.25 a litre in Mumbai) that is remained unchanged since May 2022.

The slashing of CNG costs in early April was a welcome respite to motorists utilizing CNG-powered automobiles, and, at Rs 76 per kg in Mumbai, CNG is Rs 30.29 cheaper than petrol and Rs 18.25 cheaper than diesel.

CNG car producers additionally face competitors from electrical automobiles, which is seeing a rise in demand. While the preliminary price of an EV is larger than both a CNG, petrol or diesel mannequin, the a lot decrease price of possession in the long term stays a really engaging shopping for proposition. Nevertheless, the main target of each is on eco-friendly transportation.

Also see:

Indian luxurious car gross sales hit document excessive in 2023

January 2024 sees uptick in new scooter, bike gross sales

Electric scooter, bike gross sales January 2024: Ola sells over 30,000 models